{"id":22512,"date":"2020-04-08T09:16:22","date_gmt":"2020-04-08T09:16:22","guid":{"rendered":"https:\/\/www.xotels.com\/uncategorized\/demand\/"},"modified":"2024-12-23T09:22:06","modified_gmt":"2024-12-23T09:22:06","slug":"demand","status":"publish","type":"post","link":"https:\/\/www.xotels.com\/en\/glossary\/demand","title":{"rendered":"Demand"},"content":{"rendered":"

What is the meaning \/definition of Demand in the hospitality industry<\/a>?<\/p>\n

By Demand, we mean the level of consumer interest and need: demand for beds, demand for family rooms, demand for conferencing, event space, rentable scuba diving gear\u2026<\/p>\n

If a manager asks a chef: \u2018Jacques, did you serve a lot of meals in the restaurant tonight?\u2019 she could also frame the same question like this: \u201dJacques, was there high demand<\/a> for meals in the restaurant tonight?\u2019<\/p>\n

Demand for products and services can change a little, or a lot! For example, hotels in Austria\u2019s Tyrol will experience a noticeable increase in demand for rooms during the peak skiing season, but during the low season demand could be worryingly small.<\/p>\n

Generally, prices amplify as demand grows, and vice versa.<\/p>\n

A demand calendar is something crucial for your revenue management strategy<\/a> and it will also help you make informed pricing decisions based on solid data and statistics.<\/p>\n

Identify all events that impact your demand. Positive or negative demand generators<\/a> must be recognized. Once updated, a demand calendar should not sleep. It should be updated every time you identify an event impacting your demand\u2026 that means one update a week at least! Other important elements to consider are school and back holidays in your market of reference.<\/p>\n

In Hospitality<\/a>, other types of demand could include:<\/p>\n